Downgrade Blizzard Linked to B&C Loans

Published April 30, 2007, 2:00 p.m. EDT

1 Min Read

Rating agencies issued a blizzard of news releases during the week of April 23 announcing downgrades and other rating actions on mortgage-backed and mortgage-related securities, many of them linked to subprime mortgage loans.The releases resulted in more than 30 news items on well over 300 downgrades of MBS, asset-backed securities supported by home equity loans, and collateralized debt obligations containing residential and commercial MBS. This was a record number of downgrade-related news items for this publication in a single week.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Esoteric ABS

PK ALIFT expected to raise $890.9 million in ABS

The deal will repay principal on a monthly basis, with senior expenses and fees first, unpaid interest payments on the class A and class B notes, then amounts to satisfy the coverage tests or to fund a principal reserve, if any.

By Donna M. Mitchell
Editor

2h ago
Obituaries

Bob Murphy, appraisal management company pioneer, dies

Bob Murphy was a key figure in vendor management as the co-founder of Lenders Service Inc., which is considered the first AMC, and later created ValuAmerica.

By Brad Finkelstein
Originations Editor

4h ago
Industry News

Activist investor pushes LoanDepot to consider a sale

Randian Capital, which has limited influence due to its small stake in the top mortgage company, is recommending a new strategy for the servicing portfolio.

By Bonnie Sinnock
Capital Markets Editor

4h ago
Artificial Intelligence

Bank of America's Moynihan touts 'good economics' of AI

Increased use of artificial intelligence led to revenue growth and productivity gains during the second quarter, the bank's leaders said.

By Penny Crosman
Executive Editor, Technology at Arizent

5h ago
Originations

Budget for 6.3% rates through 2027, Fannie Mae warns

Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.

By Andrew Martinez
Reporter

6h ago
Servicing

Foreclosure calls surge as FHA relief programs expire

LegalShield's foreclosure index rose 12.2% year over year in the second quarter this year. It peaked at 54.7 in May, the highest level since March 2020.

By Colin McNamara
Reporter

8h ago

Load More